Still Waiting on the Release of the Final 2015 Compliance Supplement

June 10, 2015 | By Jerry Ashworth | Post a Comment

snails81-300x225Long time readers of this blog may be familiar with a tradition that we have continued since we launched this site in 2011. As we continue to wait for the Office of Management and Budget to issue the Compliance Supplement, we are again introducing our friend, the snail. Let’s hope this will be the first and only time we’ll have to run the snail’s photo this year.

Back in 2011, OMB said it planned to issue the Compliance Supplement by the end of March, yet it still had not seen the light of day as of May 18, which led us to run our first post featuring the snail. Every year since, OMB has given a planned timeframe to issue the supplement, and each year it has missed its intended target date. In response, more snails.

Although there was no real date announced for the finalized Compliance Supplement this year, it was hoped that OMB would have announced it by now to help nonfederal entities and their auditors prepare for their audits. This year’s Compliance Supplement will be especially anticipated as it will provide information on the OMB’s uniform grant guidance for the first time. There also has been discussion about reducing the number of compliance requirements in this year’s supplement. Subscribers to Thompson’s grants publications will be informed on what is actually included when it is released.

I write this post this week noting that next Tuesday is June 16, which is the first day of the American Institute of Certified Public Accountants’ annual Not-For-Profit Industry Conference in Washington, D.C. I have traditionally tended to call this conference the unofficial deadline for OMB to issue the Compliance Supplement. In my many years of covering grants management, it always seemed that OMB would find a way to actually issue the supplement before the AICPA’s Not-for-Profit conference so that all the auditors in attendance can discuss it there. We’ll have to wait and see if the 2015 Compliance Supplement will actually be unveiled by then. One can hope…

What information are you looking forward to in this year’s Compliance Supplement?


Post a Comment

Your email is never shared. Required fields are marked *